A shopkeeper buys 40 kg of fruits for N120.00. He sells 20 kg at N5.00 per kg, 10 kg at N3.00 per kg, 5 kg at N2.00 per kg and the remaining 5 kg at 50k per...
Question 1 Report
A shopkeeper buys 40 kg of fruits for N120.00. He sells 20 kg at N5.00 per kg, 10 kg at N3.00 per kg, 5 kg at N2.00 per kg and the remaining 5 kg at 50k per kg. Calculate the :
(a) amount he realises from the sales ;
(b) total profit / loss ;
(c) percentage profit/ loss on his outlay of N120.00.
Answer Details
Cost price (outlay) \(= \text{N}120.00\) for 40 kg. Note \(50\text{k} = \text{N}0.50\).
(a) Amount realised from sales:
| Quantity | Price per kg | Amount |
|---|---|---|
| 20 kg | N5.00 | N100.00 |
| 10 kg | N3.00 | N30.00 |
| 5 kg | N2.00 | N10.00 |
| 5 kg | N0.50 | N2.50 |
(b) Total profit:
\[ \text{Profit} = 142.50 - 120.00 = \text{N}22.50. \]Since this is positive, it is a profit.
(c) Percentage profit on outlay of N120.00:
\[ \frac{22.50}{120} \times 100\% = 18.75\%. \]Download The App On Google Playstore
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